The present invention relates to a bidding model, joining buyers and sellers over a global network such as the Internet and, more particularly, to a range bidding model incorporating a market element for setting prices.
There are several known bidding models in use over the Internet for joining buyers and sellers for various products and services. When a buyer's bid is accepted, for example in a first instance, the buyer may be naturally left feeling as though the original bid was too high and concerned that the same product could have been purchased with a lower bid. In a similar context, when a seller's price is accepted, for example also in a first instance, the seller may be left feeling concerned that the asking price was too low or that the buyer may have been willing to pay more for the same product.